The city has a long list of pressing needs—including reducing crime, squelching poverty, educating our workforce, and attracting higher-income residents who will pay the taxes needed to fund all those efforts.

Taking the first concrete step toward the Republican tax plan's promise of fatter paychecks for millions, the Trump administration on Thursday issued new guidelines for how much employers should withhold as taxes from workers' pay.

The bill would cap the mortgage-interest deductions on pricier homes, but includes no changes to popular 401(k) retirement plans. It’s not expected to repeal the Obamacare individual mandate. It would cut individual tax rates for millions of Americans, but not for earners at the very top.

President Donald Trump declared repeatedly the plan would provide badly needed tax relief for the middle class. But there are too many gaps in the proposal to know yet how it actually would affect individual taxpayers and families.

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Join IBJ in honoring health care’s difference-makers—individuals, companies and charitable organizations that change lives for the better in the Indianapolis area. For more information, visit www.ibj.com/events.

Stay on top of Indy's tech scene Find out what’s new and what’s next at IBJ’s Technology Power Breakfast on March 9. Hear from top tech entrepreneurs, investors and up-and-comers who are building the city’s technology economy, and network with many more of the movers and shakers in tech. For more information, visit www.ibj.com/events.